Eastnine AB (publ) (EAST) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and very warm welcome to EAST9's year-end report for 2025. My name is Kastuti Sasnowskas. I'm CEO of EAST9. And with me is Britt-Marie Nyman, Deputy CEO and CFO. Together we will guide you through the report today. And do not forget, please post your questions during our presentation and we will take them once we're finished with the formal presentation. So, looking at the last quarter, we continue on the strong growth path, delivering 24% growth in the rental income, in comparable portfolio up 2%, profits from property management up 15% and per share is up 8%. This is for the quarter. We have minor negative unrealist value changes, net letting positive for the quarter. However, occupancy ratio somewhat down, but we're coming from very high level of over 96%. So this fluctuation quarter to quarter is very natural. Surplus ratio somewhat down as well, but remains on a very high level, close to 93%. During the quarter, we recruited Adela Chodakovic as a new CFO, starting from June. And we also extended and prolonged one of our key leases with one of our key tenants, Vinted, in Vilnius. If we look over the year, growth has been even more impressive, up 49% in the rental revenue. Comparable portfolio also very strong, up 4%. Profit from property management up 40% and per share was up 28%. Unrealized value changes, 21 million euro plus, so over the year this is a significant increase. Net letting slightly negative, but again coming from very high levels of lease-out ratios. If we look on the surplus ratio, it was 93.4% over the period. We also refinanced a number of loans preparing for accumulating cash for further acquisitions. And we established our Polish organization during the year. So if you look at these nine at a glance, we have 272,000 square meters of visi...